TUTOR MARKED ASSIGNMENT
Course Code : ECO - 14
Course Title : Accountancy - II
Assignment Code : ECO – 14/TMA/2016-17
Coverage : All Blocks
Maximum Marks: 100
Attempt all the questions. 
1. (a) Give specimen of company’s balance sheet as per part I of schedule VI of Indian Companies Act, 1956. 
(b) Differentiate between Profit & Loss Account and Profit & Loss Appropriation Account. 
2. X Ltd. sends goods to its Karnal branch at cost plus 25%. All expenses are paid by H.O. From the following particulars you are required to show Branch Debtors Account, Branch Stock Account, Stock Adjustment Account and Branch Profit & Loss Account in the books of Head Office:

3. M/s Raj and Bros. purchased a motor car from Sanjaya Automobiles on 1st Jan. 2012 on the hire-purchase system. The cash price of the motor car was Rs. 11,170. Rs. 3,000 was to be paid on signing the agreement and the balance in the three annual installments of Rs. 3,000 each. Interest @ 5% p.a. is charged by the vendor. The purchaser had decided to write off 10% depreciation annually on the written down value method. The purchaser could not pay off the installment due on 31st Dec., 2013 and as a result of this, the vendor took possession of the motor-car and the vendor estimated its value Rs. 5,500 and spent Rs. 400 on it. Later on, this motor-car was sold for Rs. 6,400. Prepare necessary accounts in the books of both the parties.

4. Why are assets and liabilities revalued at the time of admission of a new partner? Prepare a Revaluation Account with the help of imaginary figures.

5. Write short notes on the following:

(a) Pro-rata Allotment of Shares

 (b) Issue of shares at discount

 (c) Re-issue of forfeited shares

 (d) Over subscription of shares